Fertilizantes Heringer S.A. announces
2Q17 and 1H17 Earnings
Viana, Brazil, August 10, 2017 - Fertilizantes Heringer (BM&FBOVESPA: FHER3)announces today its results for the second quarter of 2017 (2Q17) and first half of 2017 (1H17).
Periods Highlights:
- Delivery volume totaled 761 thousand metric tons of fertilizers in 2Q17, 9.2% lower than the 838 thousand metric tons in 2Q16. Delivery volume totaled 1,617 thousand metric tons of fertilizers in 1H17, 10.9% lower than the 1,816 thousand metric tons in 1H16;
- Net revenue came to R$813.8 million in 2Q17, 18.2% lower than the R$994.8 million recorded in 2Q16; net revenue fell by 21.2% in 1H17, from R$2,309.3 million in 1H16 to R$1,820.1 million;
- EBITDA was a negative R$38.9 million in 2Q17, versus a negative EBITDA of R$10.2 million in 2Q16. EBITDA totaled R$5.9 million in 1H17, less than the R$26.6 million in 1H16;
- Net loss came to R$99.5 million in 2Q17, which was also impacted by the depreciation of the real in the period, versus a net loss of R$33.3 million in 2Q16. The net loss recorded in 1H17 totaled R$92.6 million, which was worse than the net loss of R$31.7 million recorded in 1H16;
- The deliveries of specialty products fell in both periods, by 22.3% in 2Q17 and 17.3% in 1H17, over the same periods in 2016. In 2Q17, the delivery of specialty products totaled 338 thousand metric tons, while in 1H17 it reached 755 metric tons.
- The net debt/EBITDA ratio fell to 4.6x on June 30, 2017, versus 5.8x on June 30, 2016;
- The Company recorded positive free cash flow of R$63.5 million in 2Q17, versus a negative RS$5.2 million in 2Q16;
For the 2Q17 and 1H17 Earnings Release, click here.
The Company will be hosting a Conference Call on 2Q17 Earnings, on FRIDAY, August 11, as follows:
Conference Call in Portuguese
(simultaneouslytranslated into English)Friday, August 11, 201710:00 a.m. US ET | 11:00 a.m. (Brasília time)
Connecting number: +1 (516) 300 1066
Code: Fertilizantes Heringer
Webcast: click here
The slide presentation will be available on Heringer's IR website prior to the beginning of the Conference Call.
For further information, please contact the IR department:
Rodrigo Bortolini Rezende
Chief Financial Officer and Investor Relations Officer
e-mail: ri@heringer.com.br